Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Mar 21, 2015 01:39 PM CDT

Live Cattle: The June contract closed $5.200 higher at $150.475 last week. The secondary (intermediate-term) trend remains up with resistance pegged between $150.75 and $154.825, the 50% and 67% retracement levels respectively of the previous secondary downtrend from $162.925 through the low of $138.60. Given the continued bullish commercial outlook indicated by the futures spreads, a test of the 67% retracement likely.

Feeder Cattle: The May contract closed $5.675 higher at $215.40 last week. The secondary (intermediate-term) trend remains up. The contract has moved above resistance near $215.10, a price that marks the 50% retracement level of the previous downtrend ...

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